The EIA reported that stockpiles expanded by 5 million to 463.9 million last week. This is compared to the forecast drop by 1.7 million. The reserves remained near the record level for this time of year.

September for delivery of WTI oil sank 1.99 percent to $49.85 per barrel as of 18:40 GMT on NYMEX today. Brent crude dropped 1 percent to $56.47 per barrel on ICE.
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